Insurance rates going up 40% in Alberta Canada
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This is relativily old news from the first part of June, but I have not seen anyone post anything, so allow me to open this can of worms. I have been spending quite a bit of time up in Calgary the last few months and caught wind of this situation.
Seems Insurers up this way are a little put out by the fact that an injury cap of $4000 on minor injuries in auto accidents was over turned as unconstitutional here last year. So rather than turn the other cheek they decided to raise auto rates 40% or about $250 per driver per year. Insurance Industry spokeman Jim Rivait said it would have only been 7% if the cap had not been overturned. When asked if he thought a 40% increase was a tad high his response was “Compared to what?” and”It is based on data.” Jim says shop rates and materials are way up. Not any of the shops I have talked to. They claim they aren’t even keeping up with inflation. 40% seem a bit higher than inflation.
When Premier Ed was asked about the increase he advised motorist “To slow down.” I might ask if he could tell insurers the same thing. Rick Bell who writes for the Calgary Sun says that with the price of Molson Canadian being the highest in the land, you can’t even get a break drowning your sorrows.
Gentlemen as always: Opinions Please!
Brad Larsen
I just read an article that they are going up 10-20% in Ontario too now.
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